Stefan Sharkansky: The Only Other Spending Rule Article You Will Ever Need

Stefan Sharkansky: The Only Other Spending Rule Article You Will Ever Need

From Enterprising Investor by CFA Institute

March 1, 2026 · 25 min · Episode 560

About this episode

Stefan Sharkansky discusses a flexible approach to retirement income planning beyond the 4% rule.

Is it time to move beyond the 4% rule? Stefan Sharkansky joins host Mike Wallberg, CFA, to discuss his Financial Analysts Journal article, "The Only Other Spending Rule Article You Will Ever Need," and why retirement income planning may require a more flexible approach. Sharkansky outlines a framework that separates secure, predictable income from market-driven spending—aiming to provide both stability and upside potential throughout retirement. He explains how his model addresses real-world retirement spending patterns, market uncertainty, and the trade-offs between safety and growth. The conversation also explores practical implementation considerations for advisors and thoughtful DIY investors looking to design more resilient decumulation strategies. Listen to the full episode for a fresh take on retirement spending—and be sure to read Stefan Sharkansky's article in the Financial Analysts Journal to explore the research in depth.

People in this episode

Host: Mike Wallberg

Guest: Stefan Sharkansky

Topics covered

  • retirement income planning
  • spending rules
  • decumulation strategies
  • market uncertainty
  • financial stability

Keywords

  • retirement spending
  • 4% rule
  • income planning
  • financial stability
  • market-driven spending

Mentioned in this episode

Organizations: Financial Analysts Journal, CFA Institute

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